I am acquiring a ground floor flat in Oakley. My Conveyancer is not listed on the bank approved list. Is it possible for me to retain my Oakley conveyancing solicitor notwithstanding that they are excluded from the bank panel?
You must have a lawyer to complete the legal work required if you need a mortgage to buy your property. They will carry out all the necessary investigations on the property, make sure that you will be registered as proprietor and ensure that all the necessary mortgage paperwork is dealt with. You could instruct a Oakley lawyer of your choice. However, where the conveyancing practitioner selected is not on the lender conveyancing panel additional costs will arise as separate legal representation will be required by them. Lender panel applications may be submitted, so if your lawyer has not previously sought membership they should take the opportunity to apply.
How up to date is your database of Oakley solicitors on the HSBC conveyancing panel? Do HSBC send you an updated list?
Oakley conveyancing firms themselves provide us confirmation that they are on the HSBC conveyancing panel as opposed to being supplied with a list from HSBC directly.
I am selling my home in Oakley. Does the lawyer need to be on the Nationwide conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Nationwide conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently currently.
If you had a top tip for choosing a conveyancing solicitor in Oakley what would it be?
Do not opt for the cheapest Oakley conveyancing quote. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
What is the difference between a licensed conveyancer and conveyancing solicitor in Oakley
Two types of professional can conduct conveyancing in Oakley namely CLC regulated conveyancers or solicitors. The two can handle the legal services that required to complete the disposal or acquisition of property. Both are obliged to execute Oakley conveyancing to the same quality and guidelines so you can be safe in the knowledge that your conveyancing will be properly carried out and that all necessary steps should be correctly followed.
My partner and I are at the point of looking at houses in Oakley and I am about to put in an offer. Is it advisable to have a property lawyer on ‘stand by’? I am planning to take a mortgage with RBS.
It would be prudent to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the estate agent. As you are seeking a mortgage with RBS, ask your prospective lawyers if they are on the RBS conveyancing panel otherwise they can't do the mortgage legal work.
We are downsizing from our property in Oakley and the buyers lawyers are claiming that there is a possibility that the property was constructed on contaminated land. Any high street Oakley conveyancer would know this is not the case. It does beg the question why the purchasers are using an online conveyancing firm as opposed to a conveyancing solicitor in Oakley. Having lived in Oakley for 4 years we know of no issue. Should we contact our local Authority to seek clarification that the buyers are looking for.
It sounds as though you may have a conveyancing lawyer currently acting for you. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
I work for a reputable estate agency in Oakley where we have witnessed a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Oakley conveyancing solicitors. Could you shed some light as to whether the owner of a flat can initiate the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I acquired a garden flat in Oakley, conveyancing was carried out December 2001. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Oakley with over 90 years remaining are worth £207,000. The ground rent is £60 levied per year. The lease expires on 21st October 2078
You have 57 years left to run we estimate the price of your lease extension to range between £28,500 and £33,000 plus legals.
The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.